Health of state banks continues to improve

The quality of banks in Washington continues to improve, while credit unions in the state have seen a small decline, Bauer Financial reported this week.

The Florida-based financial institution rating service noted in its Fourth Quarter 2015 report that 80.8 percent of state banks earned “recommended” status, with 1.9 percent listed as troubled and problematic. These data compare with 72.9 percent of banks that were recommended at the end of the fourth quarter in 2014, and 8.5 percent that were troubled.

Among state credit unions, 91.6 percent were recommended, compared with 92.1 percent the year before, and 1.1 percent were troubled, against 1.0 percent at the end of 2014.

Nationwide, 79.3 percent of banks and 83.5 percent of credit unions were recommended.

Never miss a local story.

Sign up today for unlimited digital access to our website, apps, the digital newspaper and more.